47 Unit Property in North Park Sold for $13,850,000

SAN DIEGO, 12/30/2020

ACI Apartments is pleased to announce the recent sale of a 47-unit complex in the San Diego neighborhood of North Park. The 38,576 square foot property situated on a 24,393 square foot lot at 4602 Kansas Street, was purchased by KA Kansas LLC for $13,850,000. Acquisition and asset management was provided by Eugene Marini.

The buyer was represented by Anton Burman of ACI Apartments. The seller, Arcadia Six LLC, was represented by David Andrews from ACRE. The escrow was handled by Chicago Title with Annemarie Lococo as the officer.

The property consists of eighteen 1BR/1BA, three 2BR/1BA, and twenty-six 2BR/2BA units. The location has a number of off-street parking spots and carports. The community has a gated secure access, swimming pool, and a prime San Diego location. The buyer intends on renovating the building to match the uniqueness of its North Park location.

About ACI Apartments INC.

ACI is the most successful income property brokerage firm in the county since 1982. They specialize in apartment and investment property transactions, and have maintained a solid performance despite changing economic cycles. With an average of more than 140 closed escrows per year, ACI has closed more San Diego County income property escrows than any other firm in the county – that’s more properties than the number two and number three firms combined.  Please visit us online at www.aciapartments.com